China's July industrial profits up 16.2 pct but slow from June

BEIJING, Aug 27 (Reuters) - Profits earned by China’s industrial firms rose 16.2 percent in July from a year earlier, slowing from 20.0 percent in June, the statistics bureau said on Monday.

In the first seven months of 2018, industrial profits rose 17.1 percent from the same period last year, compared with a 17.2 percent rise in the first half.

China’s industrial firms’ liabilities grew 6.5 percent in July from a year earlier, compared with a 6.6 percent rise in June.

The data covers large companies with annual revenue of more than 20 million yuan from their main operations. ($1 = 6.8740 Chinese yuan renminbi) (Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)